Zenas BioPharma (NASDAQ:ZBIO) Trading Up 5.3% - Time to Buy?

Key Points

• Zenas BioPharma shares experienced a 5.3% rise, trading at $16.49, despite a 72% drop in trading volume compared to its average.
• Wall Street analysts have shown confidence in the company, with HC Wainwright and Wedbush issuing target prices of $30.00 and $35.00 respectively.
• In its latest earnings report, Zenas BioPharma surpassed expectations, reporting a loss of ($0.80) EPS against a consensus estimate of (1.15) and revenue of $10.00 million.

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) shot up 5.3% on Monday . The stock traded as high as $16.62 and last traded at $16.49. 51,139 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 185,048 shares. The stock had previously closed at $15.66.

Analyst Ratings Changes

Several research firms have recently weighed in on ZBIO. Wedbush reissued an "outperform" rating and issued a $35.00 price objective on shares of Zenas BioPharma in a report on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Zenas BioPharma in a report on Friday, May 16th.

Zenas BioPharma Stock Performance

The stock has a market cap of $660.50 million and a price-to-earnings ratio of -4.45. The company's 50-day simple moving average is $11.40.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.80) EPS for the quarter, topping analysts' consensus estimates of ($1.15) by $0.35. The company had revenue of $10.00 million for the quarter, compared to analysts' expectations of $5.00 million.

Institutional Trading of Zenas BioPharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund purchased a new stake in Zenas BioPharma during the 1st quarter worth about $49,000. Nuveen LLC purchased a new stake in Zenas BioPharma during the 1st quarter worth about $250,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Zenas BioPharma during the 1st quarter worth about $348,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.